Carta

“In the peak of that, in 20, 22, 22% were down rounds.”

“Insofar as we can tell, if you take that core B to B software company, you know, used to be, you have a million bucks in ARR. You can start talking about a series A. Now it's three on median and the top end is more like seven or eight.”

“You know, it candidly, if you put a tagline on that, it used to be really cool to say how many people worked for you. The higher the number, the better. And now the exact opposite is true. You want to have as lean a team as possible. You know, the idea of havi…”

“At Seed, for instance, they're higher than they were in twenty-twenty-one, which was our most recent peak bubble era. And they're higher by a considerable amount. You know, the median seed valuation on Carta these days is probably something like 16 or seventee…”

“Carta sits on top of the cap table of 60,000 startups these days, as well as fund admin for two and a half to 3000 US venture funds.”

“Right now we're hovering at about 15%, so on the downslope, things are getting more healthy, but we're not back to where we were before.”

“You know, the median, so if you look at Series A companies on Carta, the ones that raised Series A in twenty-twenty-one, they had 25 people working for them. The ones that, that raised Series A in twenty-twenty-five had 16, and by the end of this year we think…”

“You're seeing a lot more PhDs. You're seeing a lot more older founders. Yeah. You know, at least this is what's coming out of Carta in terms of where they're seeing investment dollars flow.”

“When I look at the data coming out of Carta I want to say, you know, the San Francisco Bay Area is generally two standard deviations greater than in valuations than number two, New York.”